La Pampa Awards Ayala II, III Blocks

La Pampa Province
(Click to Enlarge)
Argentina's La Pampa province has awarded exploration concessions for the Gobernador Ayala II and III blocks to the Argentine subsidiaries of Canada's Petrolifera (TSX: PDP) and Petro Andina Resources respectively, the provincial government said in a statement.

Petrolifera, one of four bidders for the 207 sq km Gobernador Ayala II block, offered 960 work units each valued at roughly US$10,000 and a 25.5% royalty rate for the province. The tender had called for at least 200 work units and 18% royalties.

Investment must be carried out in the first two-year exploration period.

Petro Andina presented an offer of 1,750 work units and a 28% royalty rate for the 335 sq km Gobernador Ayala III block. The company was one of eight bidders for the block.

Exploration previously was carried out on the blocks as a result of tenders launched by Argentina's energy ministry.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours